Deferred tax on loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2011
If Deferred Tax is not created on Loss of a pvt ltd company in the last year and in current year it is having Profit.
Can that Co. can set off profit with last year's loss ?
Can that Co. can set off profit with last year's loss ?
25 September 2011
Set off of loss with profit has nothing to do with deferred tax. In current year, since the company is showing profit, find the "timing difference" and book DTA/DTL as the case may be just to comply with AS-22 and section 211 (3C) of the companies Act,1956.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- Last year TDS Claim
- NON- SUBMISSION OF LLP FORM 3
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
